1111 Lincoln Road, the iconic parking garage and retail complex on the western end of Lincoln and Alton roads in Miami Beach, has a new owner.
Multiple sources have confirmed that the sale of the building closed on Wednesday. Miami Beach developer Robert S. Wennett bought the property in 2005 for $23,500,000.
The buyer and sales price were not revealed.
Current tenants received a letter on Thursday informing them of the new address to send their monthly rent checks.
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The seven-story building, which incorporates a part of the former SunTrust Bank building built in 1969, contains 110,000 square feet of office space, 40,000 square feet of retail and several apartments, including a penthouse.
Tenants include Viacom International, JeffreyGroup public relations, a Taschen bookstore and Rosa Mexicano South Beach. The fancy open-air terrace eatery Juvia Restaurant sits atop the building, which is directly across from the Regal South Beach Cinemas 18.
The $65 million, 263-space parking garage, designed by the Swiss firm Herzog & de Meuron, opened in 2010 and received national attention for its striking design. The garage has hosted everything from weddings to wine tastings and yoga classes.